Giving Life Insurance To A Charity

Life Insurance and associated tax issues are complicated. You can imagine that this can become an issue when a donor realizes, after the donation, that the donated policy with a $100,000 of cash value is a very well-seasoned whole life policy with only a $10,000 basis. Going to the rule above, the deductible number would be the lesser of the FMV, which we’ ll call…

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